1. When common stocks are issued in exchange of a noncash asset, an both the (fair) market value of new common shares and noncash asset are observable, the acquired asset' s acquisition cost should be recorded under IFRS statements at an amount equal to: sold for less than their acquisition cost, and there were no previous gain on treasury stock sales, the difference between the sales price and acquisition cost is debited to: a. The book value of noncash asset b. The par value of new shares issued c. The market value of new shares issued d. The fair value of noncash asset